Pima County may purchase an aging hotel in downtown Tucson with proceeds from a 2004 bond issue for affordable housing to prevent developers from evicting low-income tenants.
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Supervisors voted 4 to 1 last week to offer about $670,000 for the 80-year-old Coronado Hotel if owners allow the city or a nonprofit corporation to manage the building.
The county housing commission said it would approve the use of up to $800,000 in bond proceeds if the county’s offer is accepted.
The $10 million of bond proceeds were originally intended to purchase foreclosed homes for use as affordable housing.
